Oriens
Travel & Hotel Management, the Next Generation International Hotel Brand
Operator, has announced that the company is prepared to complete a merger with
the Costa Rican entity, E-Network de Costa Rica M & A Sociedad Anomima
(“E-Net”). The move came as a result of the company accepting a “Plan of
Merger” during a special meeting of the Board of Directors, on Wednesday,
September 10th, 2014.
“This
is the beginning of something real and tangible,” noted a senior Board Member.
“The merger of E-Network delivers an assurance to shareholders that Oriens is
now set on a course that will offer the best solution to rapid growth in Costa
Rica, and to the Company overall.”
Confirmed
by a company spokesperson, E-Net is the target of the merger and both companies
have committed to the process without delay. The deal’s completion will likely
occur by the close of this weekend. Running simultaneously with the merger news
are reports confirming that an E-Net principal will be inserted as Oriens’ new
CEO. This individual is well tenured in Costa Rican real estate, law, and
experienced with internet traffic generating technologies. A senior Board
Member commenting on what they feel E-Net’s most important factor is, is, “the
relationships necessary to complete what Ken Chua began, and go far beyond what
Mr. Chua could have ever accomplished on his own…” The concluded, “This is
certainly the dawning of a new day.”
Additional
confirmations by a company spokesperson were that E-Net and its principals have
a pre-existing relationship with Oriens and longstanding relationships with
operators (R.E. investors, lawyers, buyers, sellers and developers) near the
Jaco Beach, San Jose and Manuel Antonio areas of Costa Rica. E-Net maintains
and manages land parcels, residential and commercial properties in Costa Rica,
and is in the process of completing another property acquisition that will
impact Oriens’ balance sheet to the upside pending finalization.
Oriens
centers its efforts in the operation of hotels and resorts primarily in the
United States and Central America under the Hotel PURE brand. Additionally, the
company operates Friendly Reservations Online, a proprietary online booking
system used in executing reservations capture through Hotel PURE consumer
facing websites, as well as individual hotel websites operated by Oriens for
hotels branded under the Hotel PURE brand.
For
more information on the company, visit www.orienscorp.com
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